Common use of Auto Enrollment Clause in Contracts

Auto Enrollment. All Teachers hired after January 1, 2018 will be automatically enrolled in a voluntary 403(b) plan. 1/24th of eligible matching contributions as outlined in Section 2 of this article will be deducted from each paycheck and contributed into a Target Date Fund (TDF) as the default investment managed by Educators Benefits Consultants LLS (EBC). EBC will be the responsible Fiduciary of the default investments. A teacher can opt out of the plan within 90 days and withdrawals will be returned to the school and added back into the teacher’s paycheck. Teachers may transfer the account to any of the qualified investment companies listed in the Employer 403(b) Plan Document Adoption Agreement.

Auto Enrollment. All Teachers teachers hired after January 1, 2018 will be automatically be enrolled in a voluntary 403(b) plan. 1/24th 1/24TH or 1/20th of eligible matching contributions as outlined in Section Sec. 2 of this article will be deducted from each paycheck and contributed into a Target Date Fund (TDF) as the default investment managed by Educators Benefits Consultants LLS (EBC)EFS Advisors. EBC EFS Adviosrs will be the responsible Fiduciary of the default investments. A teacher can opt out of the plan within 90 days and withdrawals will be returned to the school and added back into the teacher’s paycheck. Teachers may transfer the account to any of the qualified investment investments companies listed in the Employer 403(b403 (b) Plan Document Adoption Agreement.